Is Olympia West, WA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
Since last year, Olympia West has remained a Seller's Market.
Housing Prices in Olympia West, WA
How much do homes in Olympia West, WA cost?
Median Sold Price
$588,725
$283/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Summary: The median home sold price in Olympia West was $588,725 in May 2024, up 1.5% from last year, and the median price per square foot was $283.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $305K | $480K | +57.4% |
2 Bedrooms | $480K | $487.5K | +1.6% |
3 Bedrooms | $575K | $584.9K | +1.7% |
4 Bedrooms | $650K | $626.5K | -3.6% |
5+ Bedrooms | $554.9K | $630K | +13.5% |
Summary: Olympia West housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 57.4%, 2 bedroom homes increased by 1.6%, 3 bedroom homes increased by 1.7%, 4 bedroom homes decreased by 3.6%, and 5+ bedroom homes increased by 13.5%.
Median Sold Price Compared To Nearby Cities
Tumwater | $497.9K | $516.8K | +3.8% |
Kamilche | $365K | $375K | +2.7% |
Olympia West | $579.9K | $588.7K | +1.5% |
Thurston South | $454.8K | $455.9K | 0.2% |
Malone-Porter | $513K | $439.9K | -14.2% |
Housing Supply in Olympia West, WA
How many homes are available in Olympia West, WA?
Number of Homes For Sale
Apr 2024 | May 2024 | CHANGE |
---|---|---|
84 | 101 | +20.2% |
Summary: The Olympia West real estate market had 101 homes for sale in May 2024, a 20.2% increase compared to April 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 2 | 2 | 0.0% |
2 Bedrooms | 12 | 21 | +75.0% |
3 Bedrooms | 43 | 49 | +14.0% |
4 Bedrooms | 24 | 24 | 0.0% |
5+ Bedrooms | 3 | 5 | +66.7% |
Summary: The Olympia West housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 75%, 3 bedroom homes increased by 14%, 4 bedroom homes remained the same, and 5+ bedroom homes increased by 66.7%.
Number of Homes Sold
Apr 2024 | May 2024 | CHANGE |
---|---|---|
19 | 26 | +36.8% |
Asking Price vs. Sold Price
4 Homes Were Sold
Under Asking
13 Homes Were Sold
At Asking
9 Homes Were Sold
Over Asking
Summary: A total of 26 homes were sold or pending in Olympia West in May 2024, up by 36.8% month-over-month. Of the 26 sold homes, 15% were sold under asking, 50% were sold at asking, and 35% were sold over asking.
Days on Market for Olympia West, WA
How long does it take to sell a home in Olympia West, WA?
Average Sale Time
May 2023 | May 2024 | CHANGE |
---|---|---|
59 Days | 38 Days | -34.4% |
Summary: Homes in Olympia West had an average of 38 days on market in May 2024, down by 34.4% compared to last year.
Breakdown of Home Sale Times
20 Homes Were Sold
Under 30 Days
3 Homes Were Sold
In 30 - 90 Days
3 Homes Were Sold
Over 90 Days
Summary: During May 2024, 26 homes were sold in Olympia West; 77% of homes were sold within 30 days, 12% of homes were sold within 30 to 90 days, and 12% of homes were sold over 90 days.